A leading crypto trader says Bitcoin (BTC), Ethereum (ETH) and other top digital assets are showing signs of continued near-term growth.
Crypto analyst Justin Bennett recount his 107,300 Twitter followers are expecting volatility today due to nonfarm payrolls, a measure of the strength of the U.S. economy that excludes homeowners, private household workers, unpaid volunteers, agricultural employees and the unincorporated self-employed.
“BTC is showing signs of life. Same with ETH and others.
But remember, Friday is non-farm payrolls, so expect some volatility at 8:30 a.m. EST.
Yesterday the analyst suggested that BTC was already going up.
“Regardless of what happens in the short term, I think the writing is on the wall for BTC.”
Then this morning, with BTC trading for $20,294, Bennett seems confirmed its bullish assumption.
BTC looks ready for $21,400.
Bennett then examines the S&P 500, a stock market index that tracks 500 publicly traded U.S. companies. The merchant believes the S&P’s current moves spell short-term success for Bitcoin, Ethereum, and other top crypto projects.
“What a rally in the S&P 500 from the 3,900 support.
A nice bullish hammer/pin bar as well.
Perhaps back to 4,100 resistance from here, which would take the crypto higher in the near term.
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